Real estate is something absurd like 20% of Canada’s GDP, isn’t it? What may have started as greed has evolved into something vital to the country’s existence. You can’t just crash Canadian real estate without having a major negative impact on the country.
Re:Canada's Population Reaches 40M
by cmrdporcupine on Friday June 16, 2023 @08:07PM
(#36365679)
When you're up to your neck in quicksand ... why struggle?
Government spending by Trudeau has packed on insane debt levels making inflation worse. It took Canada 150 years to reach a level of debt that Trudeau managed to double. 1.2 Trillion and 151 billion a year debt payments. Given up plans to ever stop spending more than taking in.
Inflation make that 1.2 trillion worth less (and everyone elses money). It's a strategy. Trudeau doesn't control the rate directly but he is still sending out larger and larger cheques for votes and keeps spending on social programs and military spending like the money supply is unlimited. Having a second house means little when there are bigger paydays
Look at the way Poilievre foams all apoplectic at the mouth about the BoC raising its rate (as if it's Trudeau's choice what that # is... but whatever) while at the same time blaming Trudeau for inflation. His boomer bosses need their mortgages to stay cheap and their housing prices to stay high, no matter what.
Canada is corrupt and eats its young.